One Year of Impact: Eternal Mongolia Sustainable Finance Initiative Advances Sustainable Conservation and Locally Led Development
April 22, 2025, marked the one-year anniversary of the Eternal Mongolia Project Finance for Permanence (PFP), a groundbreaking sustainable finance initiative that secures the long-term conservation of Mongolia’s vast, biodiverse landscapes while advancing community-driven development through local leadership.
The project was launched by the Government of Mongolia, local herding communities, The Nature Conservancy, and several others and is an initiative of Enduring Earth. In its first year, Eternal Mongolia has laid a strong foundation for transformational, lasting impact, to deliver on three core goals:
By 2030, Mongolia will protect an additional 14.4 million hectares of grasslands, expanding its national protected area system to meet its “30 by 30” commitment.
By 2035, management effectiveness will be enhanced across 46.92 million hectares of existing protected areas.
The initiative will also support 24,000 households through community-based natural resource management across 34 million hectares of priority landscapes beyond the protected network.
In its first year, the initiative prioritized building the systems and structures essential for enduring conservation and community prosperity, including:
Sustainable Finance Architecture: At the heart of the initiative is the Mongolian Nature’s Legacy Foundation (MNLF)—an independent conservation trust fund established to administer the PFP’s US$61 million transition financing over 15 years, including a US$21 million endowment. The MNLF Secretariat is now operational, managing donor funds, issuing grants, and upholding rigorous standards for procurement and fiduciary accountability.
Inclusive, Multi-Stakeholder Engagement: Nearly 50 institutions—including protected area managers, conservation NGOs, government bodies, Indigenous and local community leaders, and private sector partners—have shaped the initiative’s priorities through collaborative planning and decision-making.
Transparent and Accountable Governance: A robust governance structure is now in place, including a Board of Directors, a Governance & Nomination Committee, and a Finance & Investment Committee—ensuring transparent oversight and strategic direction for the MNLF.
Government Coordination and Policy Alignment: A Technical Coordination Committee composed of government and civil society representatives is driving alignment with national conservation goals. A dedicated Project Coordination Unit within Mongolia’s Ministry of Environment and Climate Change ensures policy integration and implementation at the national level.
Nature-Positive Financial Innovation: An agreement with the State Bank of Mongolia is paving the way for green finance solutions, including biodiversity-focused lending, sustainability-linked products, and enhanced risk and ESG reporting frameworks.
Sector-Wide Convening and Learning: The initiative has convened and contributed to multiple national forums and technical workshops—including a PFP inception session, a multi-agency coordination meeting on protected area policy and management, and a biodiversity finance side event at the Mongolian Sustainable Finance Forum 2024, which brought together over 400 participants from the environmental and financial sectors.
“Mongolia, as a world leader in conservation, recognizes that they need to make bold investments for nature. We are tremendously inspired and honored to be working side by side to help protect their grasslands, one of the world’s largest remaining intact ecosystems, via this innovative Project Finance for Permanence mechanism”
Eternal Mongolia is scaling a bold vision for people and planet. By expanding protections across one of the world’s last intact temperate grasslands—home to sweeping sand dunes, rugged mountains, alpine lakes, and 13,000 kilometers of river systems—the initiative safeguards vital biodiversity while contributing to regional climate stability. Mongolia’s grasslands store an estimated 14–15 million tons of carbon, serving as a natural climate buffer for much of central and northern Asia.
At its core, Eternal Mongolia is grounded in collaborative, community-led conservation. Over 200,000 nomadic herding families—among the last of their kind globally—depend on these landscapes. The PFP ensures that their traditional knowledge, cultural practices, and land stewardship are central to both planning and implementation.
These grasslands, while ecologically and culturally vital, remain among the most endangered ecosystems in the world. As the only extensive habitat of their kind in Asia, they are home to iconic and imperiled species such as the argali sheep, Mongolian gazelle, demoiselle crane, and the critically endangered saiga antelope.
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